Air America Radio closing, filing for bankruptcy

FILE - In this Aug. 24, 2004 file photo, former Air America radio host Al Franken is seen during a news conference in New York. Air America Radio, a progressive radio network founded in April 2004 that once aired commentary from Franken and Rachel Maddow, says it is ceasing operations Thursday, Jan. 21, 2010, and will soon file to be liquidated under Chapter 7 bankruptcy. Franken, who is now a U.S. senator, hosted his show until 2007. (AP Photo/Bebeto Matthews, File)

AP

Published: Thursday, January 21, 2010 at 6:56 p.m.

Last Modified: Thursday, January 21, 2010 at 6:56 p.m.

LOS ANGELES (AP) — Air America Radio, a progressive radio network that once aired commentary from Al Franken and Rachel Maddow, said Thursday it is shutting down immediately.

The company founded in April 2004 said it ceased airing new programs Thursday afternoon and will soon file to be liquidated under Chapter 7 bankruptcy. It began broadcasting reruns of programs and would end those as well Monday night.

Air America said 10 consecutive quarters of declining ad revenue and the difficulty of making money on the Internet contributed to its financial woes.

"The very difficult economic environment has had a significant impact on Air America's business. This past year has seen a 'perfect storm' in the media industry generally," the company said in a statement on its Web site.

The network had some 100 radio outlets nationwide.

Franken, a Democrat, hosted his own show from 2004 to 2007 before going on to become a U.S. senator from Minnesota last year after a close election. Maddow went on to host her own TV show on MSNBC.

<p>LOS ANGELES (AP) — Air America Radio, a progressive radio network that once aired commentary from Al Franken and Rachel Maddow, said Thursday it is shutting down immediately.</p><p>The company founded in April 2004 said it ceased airing new programs Thursday afternoon and will soon file to be liquidated under Chapter 7 bankruptcy. It began broadcasting reruns of programs and would end those as well Monday night.</p><p>Air America said 10 consecutive quarters of declining ad revenue and the difficulty of making money on the Internet contributed to its financial woes.</p><p>"The very difficult economic environment has had a significant impact on Air America's business. This past year has seen a 'perfect storm' in the media industry generally," the company said in a statement on its Web site.</p><p>The network had some 100 radio outlets nationwide.</p><p>Franken, a Democrat, hosted his own show from 2004 to 2007 before going on to become a U.S. senator from Minnesota last year after a close election. Maddow went on to host her own TV show on MSNBC.</p>